Praxis Precision Medicines prices $525 million stock offering

Praxis Precision Medicines Inc. (NASDAQ: PRAX) announced the pricing of its public offering at $525 million in gross proceeds, according to a company statement.

The clinical-stage biopharmaceutical company will sell 3,025,480 shares of common stock at $157.00 per share. The offering also includes pre-funded warrants to purchase up to 318,470 shares at $156.9999 per warrant.

Praxis has granted underwriters a 30-day option to purchase up to 501,592 additional shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 20, 2025, subject to customary closing conditions.

TD Cowen, Piper Sandler, Guggenheim Securities and Truist Securities serve as joint book-running managers for the offering. Oppenheimer & Co. and H.C. Wainwright & Co. act as lead managers.

The company develops therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. The offering is being conducted under a shelf registration statement on Form S-3ASR that became effective upon filing with the Securities and Exchange Commission on December 23, 2024.

The final prospectus supplement will be filed with the SEC and made available through the agency's website and the underwriters.

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